Silver Standard

>>67413829
Because Mexico is full of Mexicans

>>67413829
Because backing money with precious metals is an old econ meme that doesn't work the way you probably think it does. Tying your currency to silver is a good way to cause deflation which will make any debts denominated in your currency spiral out of control.

>>67414321
THIS, it's not a real workable idea

>>67413829
Also the peso is not in a free fall, yes it's bad but looking at the way things are developing not as bad as I expected things to be at this point after a Trump victory.

It is going to get worse, will finally post weak performance for the final quarter of the year and the first one next year is fraught with uncertainty, there's a good chance we'll see the peso bludgeoned to Argentina levels although so far inflation is holding which makes it liveable. It all depends on how much of NAFTA we can salvage, what Trump's measures on us paying the wall (which we won't) will finally amount to and on whether Peña can get at least some of the issues in the domestic front under control, it's really not helping to have a monthly corruption scandal and opacity as a solution is only making things worse.

It will be bad through at least mid 2017, assuming a) Trump is minded to at least bring certainty to markets and doesn't drag this on with some hardball negotiating (which however much they want to dismiss it does come at a cost to the US as well) and b) whether the US doesn't tank the world economy on some quixotic trade war with China.

>>67414321
Metals are still better than digital and paper money, though.

>>67414808
What reasons do you have for thinking that?

>>67414808
No, we don't hold most of the world's reserves of silver meaning we don't set the price for it and the market is extremely volatile, it would wreck just everyday grocery shopping nevermind investment, we might as well go for a bitcoin economy, it's a terrible idea.

>>67413829
>Why haven't we approved the use of silver as a currency, again?
Because the silver price, like gold, is a FIX, i.e. manipulated by central banks and money-market dealers, bearing no regard whatsoever to either demand or supply.

>>67414321
>Because backing money with precious metals is an old econ meme that doesn't work the way you probably think it does.

Sadly, having unbacked currency doesn't seem much better considering all the financial magic and trickery the governments along with central banks can now employ.

>>67415034
Because the goverment and bankers are creating money out of nothing and that means our money is based on nothing. People were tricked into thinking they have money with real value, so at doing this, people can't manipulate their currency and don't have any political and economic power. As long as people believe in this idea of "money" the system will continue to work.
Money is, literally, one of the few real life memes that controls the world.

File: 1479073113492.gif (920KB, 245x230px) Image search: [Google]

920KB, 245x230px

>>67415515
And who do you think decides what your silver is worth?

>>67415515
Dude, there's two types of money, as currency for the exchange of goods and services is what we know and it really doesn't make a difference whether is fiat or no and as capital which really only matters to much less than 10% of the population even if their decissions impact us all. You cannot make profiting from the "value" of money something democratic.

>>67414808
Not really.

>>67414321
it is only deflationary to the extent that you economy is growing you stupid fucking faggot, in which case there is literally nothing wrong with it.

Think what happened to Kaddafi when he wanted to use gold as currency.

>>67415618
>>67415717
And you don't see a problem in that? The problem is that money doesn't exist in reality. It only exists as an idea, the economy is purely conceptual because it isn't based on anything tangible like gold or silver. It's all a dream, as long as we agree money has value, it has value.
In other hand, physical currency is different from conceptual currency and silver and gold have actual applicable value and cannot be created infinitely.

>>67416426
>The problem is that money doesn't exist in reality. It only exists as an idea, the economy is purely conceptual because it isn't based on anything tangible like gold or silver.
I'm failing to see the problem

>>67416310
I guess you're right, I mean, it's not the first time this happens.

>Jim Marrs, in his book Crossfire, presented the theory that Kennedy was trying to rein in the power of the Federal Reserve, and that forces opposed to such action might have played at least some part in the assassination. According to Marrs, the issuance of Executive Order 11110 was an effort by Kennedy to transfer power from the Federal Reserve to the United States Department of the Treasury by replacing Federal Reserve Notes with silver certificates.

https://en.wikipedia.org/wiki/Executive_Order_11110

>>67416426
The same can be said of bullion, no thing has intrinsic value, if you want to go full retard relativist you would trade silver for water weight for weight under the right circumstances

>>67418473
Well, I know metals per se have no real value for your typical person, but I said silver because México has a lot of it, and it would be an upgrade to our shitty Dollar clone.
If we want to be practical we should trade based on energy using the Kilowatt-hour or other power consumption unit.

Can Mexico do anything right, /int/?

>>67420449
We are pretty good at beheading each other, imho.

>>67413948
Just like the US.

>>67415515
Brah that's how money works. It has the value it's assigned. With modern money it's based on the country of it's origin's ability to pay people in USD should they want the value of their money.
Basically we still have a sort of global gold standard, but it's with the USD. If the US economy shakes, so does the world.

>>67416426
Money isn't the value of the piece of paper, or the metal of the coin. It's the medium in which goods are exchanged, not the good being exchanged.

There isn't enough precious metal to actually back the currency anymore, we stopped doing that as it would hamper the economy by not allowing more currency to be created. Any economy that is deflationary by nature is gonna crash completely at some point. Inflation is a good thing for the most part, hyperinflation is bad though.